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Many people around the world a lot of debt. They a lot of money. They are credit cards more and more. People are out loans to help them buy food. More young people are lots of money and have huge student loans. One country is something to help people with debt. South Korea is going to write off the debts of as many as 1.6 million people. The government to help people on low incomes who have money problems. It a scheme called the National Happiness Fund. It wants to help people to make a fresh start in life, without money worries. South Koreans who are to pay back debts of less than $9,000 could help.

The National Happiness Fund in 2013 to help the poorest people in Korea with their debts. The scheme a big promise of a former South Korean president. He to reduce growing inequality in the country. Household debt a big issue in South Korea. The Happiness Fund will with this. However, there is still a big problem with middle and higher-income workers. These people most of the debt in South Korea. The Korea Times newspaper said the government is, " numerous working families from bankrupt under a mountain of debt". It said the government needed to act soon because there could a big debt crisis .